Systems and methods for collateral deposit identification

ABSTRACT

A secured credit provider computing system is provided. The system includes a network interface configured to communicate data over a network and a processing circuit including one or more processors coupled to non-transitory memory. The processing circuit is configured to receive a secured credit product application from an applicant, transmit a passcode message to the applicant, receive a confirmation message of collateral deposited into a collateral escrow account from an escrow account provider computing system, and issue a secured credit product to the applicant.

BACKGROUND

As a significant portion of consumers have either poor credit or nocredit whatsoever, providers of financial services have an incentive tooffer credit products tailored to the particular needs of theseconsumers. One particularly advantageous category of products for theseconsumers is secured credit products. Secured credit products arearrangements between secured credit providers and consumers in which theconsumer must deposit some form of collateral as security for the lineof credit. For example, if an applicant wishes to obtain a securedcredit card with a credit limit of $500, the applicant must first make acollateral deposit of $500 into an escrow account. The collateraldeposited in the escrow account cannot be used to make credit cardpayments, but upon a certain period of favorable payment history to thecredit card, the secured credit card may be upgraded to an unsecuredcredit card and the collateral in the escrow account may be refunded.Currently, secured credit product applicants that do not have apre-existing account with the secured credit provider issuing thesecured credit product (or that have a pre-existing account with thesecured credit provider, but opt to fund the collateral using account(s)from a different provider) generally must submit a collateral depositcheck by mail or in person at a branch of the secured credit provider toapply for a secured credit card.

SUMMARY

One embodiment of the disclosure relates to a secured credit providercomputing system. The system includes a network interface configured tocommunicate data over a network and a processing circuit including oneor more processors coupled to non-transitory memory. The processingcircuit is configured to receive a secured credit application from anapplicant, transmit a passcode message to the applicant, receive aconfirmation message of collateral deposited into a collateral escrowaccount from an escrow account provider computing system, and issue asecured credit product to the applicant.

Another embodiment of the present disclosure relates to acomputer-implemented method. The method includes receiving a securedcredit application from an applicant, transmitting a passcode message tothe applicant, receiving a confirmation message of collateral depositedinto a collateral escrow account, and issuing a secured credit productto the applicant.

Another embodiment of the present disclosure relates to acomputer-implemented method. The method includes transmitting a securedcredit product application and receiving a passcode message indicatingconditional approval of the secured credit product application. Thepasscode message includes a passcode configured to enable a securedcredit product application to access a collateral deposit tool. Themethod further includes entering the passcode into the collateraldeposit tool, and depositing collateral using the collateral deposittool, where depositing collateral completes the secured credit productapplication.

These and other features, together with the organization and manner ofoperation thereof, will become apparent from the following detaileddescription when taken in conjunction with the accompanying drawings.

BRIEF DESCRIPTION OF THE DRAWINGS

The details of one or more implementations are set forth in theaccompanying drawings and the description below. Other features,aspects, and advantages of the disclosure will become apparent from thedescription, the drawings, and the claims, in which:

FIG. 1 is a schematic diagram of a computer-implemented secured cardcollateral capture system, according to an example embodiment.

FIG. 2 is a schematic diagram of a computer-implemented process forissuing a secured credit product, according to an example embodiment.

FIG. 3 is a schematic diagram of a computer-implemented process fordepositing collateral for a secured credit product using a collateraldeposit tool, according to an example embodiment.

FIG. 4 is schematic diagram of another computer-implemented process fordepositing collateral for a secured credit product using a collateraldeposit tool, according to an example embodiment.

FIG. 5 is a schematic diagram of a remote deposit capture clientapplication user interface, according to an example embodiment.

DETAILED DESCRIPTION

Referring to the figures generally, various systems, methods, andapparatuses related to a secured card collateral capture systemstructured to assist applicants for secured credit products aredescribed. As used herein, an “applicant” may refer to either anindividual or a business seeking to obtain a secured credit product.Secured credit products may include, but are not limited to, securedcredit cards, secured lines of credit, and secured loans. As describedin further detail below and according to the methods and systemsdisclosed herein, the applicant may submit the collateral used to securethe credit product via a collateral deposit tool. In some arrangements,use of the collateral deposit tool involves a deposit of checks and/orcash into an automated teller machine (ATM). In other arrangements, useof the collateral deposit tool involves a check image captured by aremote deposit capture application installed on a computing device.

Under existing methods, when a check is deposited by the applicant as acollateral for a secured credit product, it is generally mailed toeither an escrow account provider or to the secured credit provider.Once received at its destination, the deposit check must be identifiedas originating from a particular applicant and associated with theapplicant's account, either via manual or automatic methods. Asdescribed in further detail below, the invention of the presentdisclosure represents a technical improvement over existing methodsbecause no identification or association activities need be performed bythe check recipient. Instead, because the applicant must enter apasscode prior to capturing an image of the deposit check via asmartphone application or via an ATM, the check image is transmittedelectronically with data that permits the applicant to be immediatelyidentified and the correct account credited with the deposit. Thisresults in the issuance of the secured credit product with fewerrequired CPU cycles performed by the escrow account provider computingsystem and/or the secured credit provider computing system.

Referring now to FIG. 1, a block diagram of a secured credit collateralcapture system 100 is shown, according to an example embodiment. Thecapture system 100 includes an applicant computing device 102, an ATM112, an escrow provider computing system 116 operated by an escrowprovider 114, and a secured credit provider computing system 128operated by a secured credit provider 126. Various components of thecapture system 100 communicate with one another over a network 142. Thenetwork 142 is a data exchange medium, which may include wirelessnetworks (e.g., cellular networks, Bluetooth®, WiFi, Zigbee®), wirednetworks (e.g., Ethernet, DSL, cable, fiber-based), or a combinationthereof. In some arrangements, the network 142 includes the internet.

The applicant computing device 102 is a computing device associated withan applicant of a secured credit product. The applicant computing device102 includes any type of computing device capable of receiving andtransmitting information related to a secured credit application overthe network 142. The applicant computing device 102 includes bothwearable and non-wearable devices. Wearable devices refer to any type ofdevice that an individual wears including, but not limited to, a watch(e.g., smart watch), glasses (e.g., eye glasses, sunglasses, smartglasses), bracelet (e.g., a smart bracelet), etc. The applicantcomputing device 102 also includes any type of non-wearable deviceincluding, but not limited to, a phone (e.g., a smartphone, etc.), atablet, and a personal digital assistant.

In the example arrangement shown, the applicant computing device 102includes a network interface 104 enabling the applicant computing device102 to exchange information over the network 142, a remote depositcapture client application 108, and an input/output (I/O) interface 106.The I/O interface 106 includes hardware and associated logics configuredto enable the applicant computing device 102 to exchange informationwith the applicant, the escrow provider computing system 116, and thesecured credit provider computing system 128, as will be described ingreater detail below. An input device or component of the I/O interface106 allows the applicant to provide information to the applicantcomputing device 102, and may include, for example, a mechanicalkeyboard, a touchscreen, a microphone, a camera, a fingerprint scanner,any user input device engageable with the applicant computing device 102via a universal serial bus (USB) cable, serial cable, Ethernet cable,and so on. An output device or component of the I/O interface 106 allowsthe applicant to receive information from the applicant computing device102, and may include, for example, a digital display, a speaker,illuminating icons, light emitting diodes (LEDs) and the like.

The capture client application 108 is structured to assist the applicantin capturing an image of a check used as a collateral deposit 110 forthe secured credit product. Accordingly, the capture client application108 is communicably and operatively coupled to the I/O interface 106 toreceive images captured by the I/O interface 106. For example, a usercaptures an image of a check using a camera on the applicant computingdevice 102. The captured image is communicated to the capture clientapplication 108. The capture client application 108 is configured totransmit that captured image to the computing system 116 and/or thecomputing system 128. In some arrangements, an applicant may be promptedto enter additional information to supplement the captured imageincluding, but not limited to, the applicant's name, the deposit amount,the check number, and the routing number. In other arrangements, allcheck data is automatically captured via the capture client application108.

In some arrangements, the capture client application 108 is a separatesoftware application implemented on the applicant computing device 102.The capture client application 108 may be downloaded by the applicantcomputing device 102 prior to its usage, hard coded into the memory ofthe applicant computing device 102, or accessible as a web-basedinterface application such that the applicant accesses the captureclient application 108 via a web browsing application. In this latterinstance, the capture client application 108 may be supported by aseparate computing system including one or more servers, processors,network interface circuits, etc., that transmit applications for user tothe applicant computing device 102. In certain arrangements, the captureclient application 108 includes an application programming interface(API) and/or a software development kit (SDK) that facilitates theintegration of other applications.

Irrespective of the form that the capture client application 108 takes,the capture client application 108 is structured to transmit and receivedata (e.g., check images of the deposit 110) from the escrow provider114 and the secured credit provider 126 via the network 142. Furtherdetails of these interactions are provided below with reference to FIGS.2 and 4. In various arrangements, the capture client application 108 isalso configured to provide displays to the applicant computing device102 that assist the applicant in capturing an image of a checkcomprising the deposit 110. For example, a notification indicatingsuccessful capture of the check image may be generated and presented tothe applicant upon completion of the image capture.

Still referring to FIG. 1, the ATM 112 is capable of both receivingdeposits and dispensing funds. For example, the ATM 112 may be used toperform functions such as withdrawals of paper currency, deposits ofpaper currency and checks, and monitoring of account balances. In onearrangement, the ATM 112 is owned and operated by the secured creditprovider 126. In another arrangement, the ATM 112 is owned and operatedby the escrow provider 114. In other arrangements, the ATM 112 is ownedand operated by a different banking institution.

The ATM 112 includes a transaction slot configured to receive depositsof paper currency and checks (e.g., the deposit 110). The ATM 112 mayfurther include a keypad, or similar user input device, containing anumber of buttons (e.g., alphanumeric) configured to receive input(e.g., a passcode, described in further detail below) from an applicant.Additionally or alternatively, the ATM 112 may incorporate similar userinput devices such as touch screens, gesture recognition, and so on. Theapplicant utilizes the user input devices, such as the keypad, tonavigate a graphical user interface (GUI) of the ATM 112. The GUI allowsthe user to perform the various functions of the ATM 112 and alsodisplay information (e.g., prompts, images, text) to the applicant. Forexample, the GUI of the ATM 112 may display information related to thecollateral deposit (e.g., the required deposit amount) to the applicant.

The capture system 100 is further shown to include an escrow providercomputing system 116. The computing system 116 is associated with anescrow provider 114. As used herein, the escrow provider 114 is abanking institution or other entity that administers accounts that areused to store collateral for a secured credit product. In somearrangements, the escrow provider 114 and the secured credit provider126 are the same entity or have some affiliation with each other (e.g.,the escrow provider 114 is a subsidiary of the secured credit provider126 or vice versa). In other arrangements, the escrow provider 114 andthe secured credit provider 126 are wholly independent entities.

The computing system 116 includes a network interface 124 that enablesthe computing system 116 to communicate data over the network 142 andbetween a collateral capture processing circuit 118, a collateralconfirmation processing circuit 120, and an escrow accounts database122. The capture processing circuit 118 and the confirmation processingcircuit 120 may consist of one or more processors coupled to memory.Each processor may be implemented as one or more application specificintegrated circuits (ASICs), field programmable gate arrays (FPGAs), agroup of processing components, or other suitable electronic processingcomponents. The memory may be one or more devices (e.g., RAM, ROM, Flashmemory, hard disk storage) for storing data and/or computer code forcompleting and/or facilitating the various processes described herein.The memory may be or include non-transient volatile memory, non-volatilememory, and non-transitory computer storage media. The memory mayinclude database components, object code components, script components,or any other type of information structure for supporting the variousactivities and information structures described herein. The memory iscommunicably coupled to the processor and includes computer code orinstructions for executing one or more processes described herein.

The capture processing circuit 118 is configured to receive the deposit110 from a capture tool (e.g., the capture client application 108, theATM 112) and deposit into an account in the database 122. As such, thecapture processing circuit 118 is communicatively and operativelycoupled to the capture client application 108 and the ATM 112. Invarious arrangements, the deposit 110 is in the form of cash or a checkimage. For example, an applicant captures a check image on the applicantcomputing device 102 using the capture application 118 for furtherprocessing. As another example, the applicant approaches the ATM 112 andupon receiving a prompt from the ATM 112, deposits cash or checks intothe transaction slot. Upon receiving the deposit, the ATM 112 transmitsa notification to the capture processing circuit 118.

The confirmation processing circuit 120 is configured to generate andtransmit messages to the computing system 128 regarding the status ofcollateral deposited into the database 122. In some arrangements, theconfirmation processing circuit 120 transmits a confirmation message tothe computing system 128 including the collateral status based on datastored in the database 122. In various arrangements, the collateralstatus includes, but is not limited to, the identity of the applicant,the amount of collateral deposited, and a timestamp of when thecollateral was deposited.

The database 122 is a storage device structured to retrievably storedata pertaining to collateral deposited by secured credit applicants. Invarious arrangements, the database 122 stores data according toinstructions generated by the capture processing circuit 118. This datamay include, but is not limited to, the collateral deposit balance, atimestamp indicating when the collateral was deposited, and applicantidentifying information (e.g., the applicant's name, address, phonenumber). In some arrangements, the data stored in the database 122 isaccessible to the applicant and the computing system 128. For example,in one arrangement, via the computing system 128, the secured creditprovider 126 may request confirmation of the collateral deposit balancefrom the computing system 116 before issuing the secured credit productto the applicant. As described above, upon receipt of the requestconfirmation, the confirmation processing circuit 120 transmits aconfirmation message including information from the database 122. Inresponse to the request, the confirmation processing circuit 120 maytransmit a confirmation message to the computing system 128 containingdata stored in the escrow accounts database 122.

The computing system 128 is a computing system associated with anentity, the secured credit provider 126, that issues and providesadministration of secured credit products. In an example arrangement,the secured credit provider 126 is a banking entity. Secured creditproducts may include, but are not limited to, secured credit cards,secured lines of credit, and secured loans. The computing system 128includes, among other systems, a secured credit provider networkinterface 140, a secured credit application processing circuit 130, apasscode generation circuit 132, a collateral deposit confirmationcircuit 134, a secured credit product issuance circuit 136, and asecured credit accounts database 138. The network interface 140 enablesthe computing system 128 to exchange information over the network 142.

The application processing circuit 130, the passcode generation circuit132, the confirmation circuit 134, and the issuance circuit 136 mayconsist of one or more processors coupled to memory. Each processor maybe implemented as one or more application specific integrated circuits(ASICs), field programmable gate arrays (FPGAs), a group of processingcomponents, or other suitable electronic processing components. Thememory may be one or more devices (e.g., RAM, ROM, Flash memory, harddisk storage) for storing data and/or computer code for completingand/or facilitating the various processes described herein. The memorymay be or include non-transient volatile memory, non-volatile memory,and non-transitory computer storage media. The memory may includedatabase components, object code components, script components, or anyother type of information structure for supporting the variousactivities and information structures described herein. The memory iscommunicably coupled to the processor and includes computer code orinstructions for executing one or more processes described herein.

The application processing circuit 130 is configured to managetransactions between the applicant and the secured credit provider 126.The application processing circuit 130 receives and processesapplications received from applicants in various formats (e.g., via awebsite, by phone, in person). In various arrangements, the applicationprocessing circuit 130 additionally stores and applies rules regardingthe conditional approval of applications. For example, rules regardingthe conditional approval of applications may involve a verification ofthe applicant's identity (e.g., to prevent fraudsters from obtainingsecured credit products) and a determination of the ratio between therequired collateral deposit and the credit limit of the secured creditproduct (e.g., for many individual applicants, the collateral depositwill be equal to the credit limit; for business applicants, thecollateral deposit may be lower than the credit limit).

The passcode generation circuit 132 is configured to manage transactionsbetween the applicant and the secured credit provider 126. In variousarrangements, the passcode generation circuit 132 is configured togenerate a one-time passcode that is entered by the applicant intoeither a smartphone application (e.g., the capture client application108) or an ATM (e.g., the ATM 112) to complete deposit of thecollateral. The one-time passcode may be an alphanumeric string (e.g.,“123ABC”). For data security reasons, the one-time passcode isconfigured for a single use by the applicant. In addition, the one-timepasscode may expire after a certain period regardless of whether it hasbeen used by the applicant. In various arrangements, the passcodegeneration circuit 132 is also configured to transmit a passcode messageto the applicant that contains the one-time passcode. The passcodemessage may be transmitted by email, by phone, by text message, or byin-application messaging (e.g., a push notification). In somearrangements, the passcode message also includes the required collateraldeposit amount determined by the application processing circuit 130.

The confirmation circuit 134 is configured to manage transactionsbetween the remote deposit capture tool (e.g., the capture clientapplication 108, the ATM 112), the escrow provider 114, and the securedcredit provider 126. In some arrangements, the confirmation circuit 134transmits messages to and receives messages from the confirmationprocessing circuit 120 regarding the status of collateral held by theescrow provider 114. For example, the status of the collateral held bythe escrow provider 114 may include both the amount of collateral and atimestamp of when it was received by the escrow provider 114. In somearrangements, the confirmation circuit 134 receives messages from thecapture client application 108 and/or the ATM 112 when the applicantdeposits collateral. Receipt of a message from the capture clientapplication 108 and/or the ATM 112 may prompt the confirmation circuit134 to transmit a message to the computing system 116 regarding thecollateral status.

The issuance circuit 136 is configured to manage transactions betweenthe applicant and the secured credit provider 126. In some arrangements,the issuance circuit 136 stores and applies rules involving the issuanceof the secured credit product. Rules involving the issuance may includethe type of collateral deposit confirmation required before the productis issued (e.g., whether a confirmation message from the escrow accountprovider is required, or whether receipt of a collateral deposit checkimage is sufficient), and a determination of the period in which theapplicant must hold the secured credit product before being consideredfor an upgrade to an unsecured credit product. The issuance circuit 136issues the secured credit product, which includes generating an accountnumber related to the secured credit product. In some arrangements, theissuance circuit 136 is configured to transmit a message to theapplicant to notify the applicant of the issuance. For example, theissuance circuit 136 may transmit a notification message to theapplicant via email, text message, or in-application messaging (e.g., apush notification). In still further arrangements, the issuance circuit136 is also configured to provision an issued secured credit card to theapplicant's mobile wallet account. Provisioning an issued secured creditcard to the applicant's mobile wallet account includes provisioning atoken to the mobile wallet that is related to the account. Provisioningthe secured credit card to the applicant's mobile wallet account may beadvantageous because it permits the applicant to begin using the securedcredit card before the applicant receives the physical credit card.

The database 138 is a storage device structured to retrievably storedata pertaining to the secured credit product issued by the securedcredit provider 126. This data may include, but is not limited to, thetype of secured credit product (e.g., secured credit card, secured lineof credit, secured loan), the collateral deposit amount, the securedcredit limit, the secured credit product payment history, a timestampfor the creation of the secured credit product account, and applicantidentifying data. In various arrangements, applicant identifying datamay include the applicant's name, address, phone number, occupation, andincome level.

Turning now to FIG. 2, a flow diagram of a method 200 for issuing asecured credit product is depicted. In some arrangements, the method 200is performed using the capture system 100 shown in FIG. 1. Inparticular, the method 200 may be at least partially performed by thecomputing system 128. A secured credit application is received from theapplicant at 202. In various arrangements, the application is receivedby the application processing circuit 130 via a website or phone numberoperated or associated with the secured credit provider 126. In otherarrangements, the application is received by the application processingcircuit 130 via an in-person application at a physical branch of thesecured credit provider 126.

The application is conditionally approved pending receipt of collateralat 204. In some arrangements, the application processing circuit 130applies stored rules to the application to determine whether toconditionally approve the application. For example, the rules forconditional approval of an application may include consideration of theapplicant's credit score, financial history with the secured creditprovider 126, and income level or projected earnings, as well as therequested credit amount. In various arrangements, when the applicationis conditionally approved, the application processing circuit 130applies additional stored rules to determine the available creditamount, the collateral deposit required, and when applicable, theminimum period before a secured credit product may be upgraded to anunsecured credit product. In many arrangements, the collateral depositrequired is equal to the available secured credit. For example, theapplicant is required to make a collateral deposit of $500 in order toobtain a credit card with a credit limit of $500. In other arrangements,for example, when the applicant is a new business with limited credithistory, the collateral deposit may be smaller than the availablesecured credit.

A one-time passcode message is transmitted to the applicant at 206.Generation and transmission of the passcode is completed by the passcodegeneration circuit 132. In various arrangements and described in furtherdetail below, the one-time passcode is entered by the applicant intoeither a smartphone application (e.g., the capture client application108) or an ATM (e.g., the ATM 112) in order to deposit collateral. Fordata security reasons, the one-time passcode is configured for a singleuse by the applicant. In addition, the one-time passcode may expireafter a certain period regardless of whether it has been used by theapplicant. In some arrangements, the passcode message also includes therequired collateral deposit amount determined by the applicationprocessing circuit 130. A message confirming the receipt of thecollateral deposit is received at 208. In various arrangements, theconfirmation message is received and analyzed by the confirmationcircuit 134. For example, the confirmation circuit 134 is configured toverify that the amount of the collateral deposit as communicated by theescrow provider 114 is the same as the amount of required collateraldetermined by the application processing circuit 130. In somearrangements, the confirmation message received by the confirmationcircuit 134 is generated by the confirmation processing circuit 120 ofthe computing system 116.

The secured credit product is issued at 210. In various arrangements,issuance of the product by the issuance circuit 136 includes thecreation of a secured credit account associated with the applicant in anaccounts database (e.g., the database 138). If the product is a securedcredit card, issuance of the card includes assigning a credit cardnumber to the applicant and associating the credit card number with thesecured credit account in the accounts database. In some arrangements,issuance of the product also includes transmitting a message to theapplicant to notify the applicant of the issuance. For example, theissuance circuit 136 transmits a notification message to the applicantvia email, text message, or in-application messaging (e.g., a pushnotification).

Referring now to FIG. 3, a flow diagram of a method 300 for depositingcollateral for a secured credit product is shown according to an exampleembodiment. In some arrangements, the method 300 is performed using thecapture system 100 shown in FIG. 1. In particular, the method 300 is atleast partially performed by ATM 112. A prompt to deposit collateral isreceived at 302. For example, the prompt to deposit collateral isreceived at the ATM 112 when the applicant selects a “DepositCollateral” menu option at the ATM 112. In various arrangements, the ATM112 receives the prompt to deposit collateral after the applicant forthe secured credit product completes the application via a websitesubmission, using the applicant computing device 102, a phone call, oran in-person submission at a branch of the secured credit provider 126and receives conditional approval of the application via a notificationmessage transmitted by the secured credit provider computing system 128.

A one-time passcode indicating the conditional approval is received at304. For example, the conditional approval is received by the ATM 112 asa one-time passcode entered by the applicant. In various arrangements,the passcode is an alphanumeric string of any length sufficient toverify the identity of the applicant (e.g., 6-10 characters long). Insome arrangements, the passcode is transmitted to the ATM 112 from theapplicant computing device 102 using near-field communication (NFC),Bluetooth®, ZigBee®, RFID, electronic messaging, etc. In otherarrangements, the applicant enters other identifying information inaddition to or in place of the one-time passcode in order toauthenticate the applicant's identity. For example, this identifyinginformation may include biometric data (e.g., fingerprint, voiceprint)or security question answers. In various arrangements, entry of theone-time passcode is a completely card-less transaction, and theapplicant requires no pre-existing relationship with the entityoperating the ATM (e.g., the secured credit provider 126) in order toinitiate the collateral deposit.

A prompt indicating the amount the applicant is obligated to deposit isgenerated at 306. In various arrangements, the required collateralamount is determined by the application processing circuit 130 and isreceived by the ATM 112 subsequent the applicant's entry of the one-timepasscode into the ATM 112.

Cash or checks constituting the collateral (e.g., the deposit 110) forthe secured credit product are received by at 308. Deposit of thecollateral into the ATM 112 represents the completion of theapplication. In some arrangements, the ATM 112 is configured to transmita message to the computing system 116 and/or the computing system 128acknowledging the collateral deposit.

A confirmation of the secured product issuance is generated anddisplayed at 310. In some arrangements, the confirmation is generatedand displayed by the ATM 112 upon receipt of a message from the issuancecircuit 136 of the computing system 128. For example, the ATM 112 maydisplay a message to the applicant such as “Your collateral has beensuccessfully deposited and your secured credit card has been issued.”

Referring now to FIG. 4, a flow diagram of another method 400 fordepositing collateral for a secured credit product is shown according toan example embodiment. In some arrangements, the method 400 is performedusing the capture system 100 shown in FIG. 1. In particular, the method400 is at least partially performed by the capture client application108 of the applicant computing device 102. The application istransmitted at 402. In some arrangements, as described above, theapplicant completes the secured credit product application via awebsite, phone call, or in-person submission. In other arrangements, theapplicant accesses and submits the secured credit card via a userinterface provided by the capture client application 108.

In response to a conditional approval of the application, a one-timepasscode indicating the conditional approval is received at 404. Invarious arrangements, the applicant receives the one-time passcode viaemail, text message, or in-application messaging (e.g., a pushnotification). In some arrangements, the passcode is an alphanumericstring of any length sufficient to verify the identity of the applicant(e.g., 6-10 characters long). The passcode message may also contain therequired collateral deposit amount and a proposed credit limit for thesecured credit product.

The one-time passcode is entered into the capture client application(e.g., the capture client application 108 of the applicant computingdevice 102) at 406. For example, the applicant may enter the passcode inthe capture client application 108 via the I/O interface 106 (e.g., akeypad). An image of the collateral deposit check is captured by thecapture client application at 408. For example, the capture clientapplication may prompt the applicant to take a picture of the deposit110 by activating an I/O interface 106 (e.g., a camera) of the applicantcomputing device 102. Capture of the collateral of the collateral checkimage by the capture client application 108 represents the completion ofthe secured credit product application.

Confirmation of the issuance of the product is received at 410. Asdescribed above, in various arrangements, issuance of the productincludes receipt of a message from the secured credit provider 126. Forexample, the issuance circuit 136 transmits a notification message tothe applicant via email, text message, or in-application messaging(e.g., a push notification). In some arrangements, if the applicant hasa mobile wallet account, issuance of a secured credit card includesprovisioning the secured credit card to the applicant's mobile walletaccount. In various arrangements, the applicant's mobile wallet accountis accessible via an application provided by the secured credit provider126 and installed on the applicant computing device 102. In somearrangements, the capture client application 108 is a subcomponent ofthe same application.

Referring now to FIG. 5, a remote deposit collateral capture userinterface 500 is shown, according to an example embodiment. While theinterface 500 is shown to be presented to the applicant via theapplicant computing device 102 (e.g., a mobile device, a tablet), itshould be understood that a similar interface may also be accessible toa user as a cloud service via any suitable internet browser. Theinterface 500 may be presented to the user during the capture processesdescribed in methods 300 and 400 above. In the example shown, theinterface 500 includes a complete secured credit application button 502,a capture collateral deposit check image button 504, and a transmitcollateral deposit check image button 506. In some arrangements, each ofthe buttons 502-506 comprises a hyperlink and clicking on the hyperlinkopens an entry-specific window.

The complete application button 502 opens an entry-specific window thatpermits the applicant to complete and transmit an application to thesecured credit provider 126. For example, the entry-specific window mayprompt the applicant to enter personal information including, but notlimited to, name, address, phone number, email address, social securitynumber, and credit limit requested. The capture check image button 504opens an entry-specific window that permits the applicant to take apicture of a personal check. The capture check image button 504 may opena camera application of the applicant computing device 102 to allow theapplicant to capture the check image. The transmit check image button506 opens an entry-specific window that permits the applicant totransmit the check image to the escrow provider 114 and/or the securedcredit provider 126.

The user interface 500 is further shown to include a notification banner508. The notification banner 508 may notify the applicant of theone-time passcode generated by the passcode generation circuit 132 thatthe applicant must enter into either the remote deposit capture clientapplication 108 or the ATM 112 in order to deposit collateral. Invarious arrangements, the notification banner 508 may also indicate therequired collateral deposit amount the applicant must submit in order tocomplete the secured credit product application. For example, thenotification banner 508 may display the following message: “Yourrequired collateral deposit is $500. Your one-time passcode is1234ABCD.”

The embodiments described herein have been described with reference todrawings. The drawings illustrate certain details of specificembodiments that implement the systems, methods and programs describedherein. However, describing the embodiments with drawings should not beconstrued as imposing on the disclosure any limitations that may bepresent in the drawings.

It should be understood that no claim element herein is to be construedunder the provisions of 35 U. S. C. § 112(f), unless the element isexpressly recited using the phrase “means for.”

As used herein, the term “circuit” may include hardware structured toexecute the functions described herein. In some embodiments, eachrespective “circuit” may include machine-readable media for configuringthe hardware to execute the functions described herein. The circuit maybe embodied as one or more circuitry components including, but notlimited to, processing circuitry, network interfaces, peripheraldevices, input devices, output devices, sensors, etc. In someembodiments, a circuit may take the form of one or more analog circuits,electronic circuits (e.g., integrated circuits (IC), discrete circuits,system on a chip (SOCs) circuits, etc.), telecommunication circuits,hybrid circuits, and any other type of “circuit.” In this regard, the“circuit” may include any type of component for accomplishing orfacilitating achievement of the operations described herein. Forexample, a circuit as described herein may include one or moretransistors, logic gates (e.g., NAND, AND, NOR, OR, XOR, NOT, XNOR,etc.), resistors, multiplexers, registers, capacitors, inductors,diodes, wiring, and so on).

The “circuit” may also include one or more processors communicablycoupled to one or more memory or memory devices. In this regard, the oneor more processors may execute instructions stored in the memory or mayexecute instructions otherwise accessible to the one or more processors.In some embodiments, the one or more processors may be embodied invarious ways. The one or more processors may be constructed in a mannersufficient to perform at least the operations described herein. In someembodiments, the one or more processors may be shared by multiplecircuits (e.g., circuit A and circuit B may comprise or otherwise sharethe same processor which, in some example embodiments, may executeinstructions stored, or otherwise accessed, via different areas ofmemory). Alternatively or additionally, the one or more processors maybe structured to perform or otherwise execute certain operationsindependent of one or more co-processors. In other example embodiments,two or more processors may be coupled via a bus to enable independent,parallel, pipelined, or multi-threaded instruction execution. Eachprocessor may be implemented as one or more general-purpose processors,application specific integrated circuits (ASICs), field programmablegate arrays (FPGAs), digital signal processors (DSPs), or other suitableelectronic data processing components structured to execute instructionsprovided by memory. The one or more processors may take the form of asingle core processor, multi-core processor (e.g., a dual coreprocessor, triple core processor, quad core processor, etc.),microprocessor, etc. In some embodiments, the one or more processors maybe external to the apparatus, for example the one or more processors maybe a remote processor (e.g., a cloud based processor). Alternatively oradditionally, the one or more processors may be internal and/or local tothe apparatus. In this regard, a given circuit or components thereof maybe disposed locally (e.g., as part of a local server, a local computingsystem, etc.) or remotely (e.g., as part of a remote server such as acloud based server). To that end, a “circuit” as described herein mayinclude components that are distributed across one or more locations.

An exemplary system for implementing the overall system or portions ofthe embodiments might include a general purpose computing computers inthe form of computers, including a processing unit, a system memory, anda system bus that couples various system components including the systemmemory to the processing unit. Each memory device may includenon-transient volatile storage media, non-volatile storage media,non-transitory storage media (e.g., one or more volatile and/ornon-volatile memories), etc. In some embodiments, the non-volatile mediamay take the form of ROM, flash memory (e.g., flash memory such as NAND,3D NAND, NOR, 3D NOR, etc.), EEPROM, MRAM, magnetic storage, hard discs,optical discs, etc. In other embodiments, the volatile storage media maytake the form of RAM, TRAM, ZRAM, etc. Combinations of the above arealso included within the scope of machine-readable media. In thisregard, machine-executable instructions comprise, for example,instructions and data which cause a general purpose computer, specialpurpose computer, or special purpose processing machines to perform acertain function or group of functions. Each respective memory devicemay be operable to maintain or otherwise store information relating tothe operations performed by one or more associated circuits, includingprocessor instructions and related data (e.g., database components,object code components, script components, etc.), in accordance with theexample embodiments described herein.

It should also be noted that the term “input devices,” as describedherein, may include any type of input device including, but not limitedto, a keyboard, a keypad, a mouse, joystick or other input devicesperforming a similar function. Comparatively, the term “output device,”as described herein, may include any type of output device including,but not limited to, a computer monitor, printer, facsimile machine, orother output devices performing a similar function.

Any foregoing references to currency or funds are intended to includefiat currencies, non-fiat currencies (e.g., precious metals), andmath-based currencies (often referred to as cryptocurrencies). Examplesof math-based currencies include Bitcoin, Litecoin, Dogecoin, and thelike.

It should be noted that although the diagrams herein may show a specificorder and composition of method steps, it is understood that the orderof these steps may differ from what is depicted. For example, two ormore steps may be performed concurrently or with partial concurrence.Also, some method steps that are performed as discrete steps may becombined, steps being performed as a combined step may be separated intodiscrete steps, the sequence of certain processes may be reversed orotherwise varied, and the nature or number of discrete processes may bealtered or varied. The order or sequence of any element or apparatus maybe varied or substituted according to alternative embodiments.Accordingly, all such modifications are intended to be included withinthe scope of the present disclosure as defined in the appended claims.Such variations will depend on the machine-readable media and hardwaresystems chosen and on designer choice. It is understood that all suchvariations are within the scope of the disclosure. Likewise, softwareand web implementations of the present disclosure could be accomplishedwith standard programming techniques with rule based logic and otherlogic to accomplish the various database searching steps, correlationsteps, comparison steps and decision steps.

The foregoing description of embodiments has been presented for purposesof illustration and description. It is not intended to be exhaustive orto limit the disclosure to the precise form disclosed, and modificationsand variations are possible in light of the above teachings or may beacquired from this disclosure. The embodiments were chosen and describedin order to explain the principals of the disclosure and its practicalapplication to enable one skilled in the art to utilize the variousembodiments and with various modifications as are suited to theparticular use contemplated. Other substitutions, modifications, changesand omissions may be made in the design, operating conditions andarrangement of the embodiments without departing from the scope of thepresent disclosure as expressed in the appended claims.

What is claimed is:
 1. A computing system of a first provider,comprising: a network interface configured to communicate data over anetwork; and a processing circuit comprising one or more processorscoupled to a non-transitory memory, wherein the processing circuit isconfigured to: receive, from a user computing device, via a website orsoftware application running on the user computing device, anapplication for secured credit for a requested amount; determine asecurity amount satisfying a predetermined ratio with the requestedamount; generate a passcode corresponding to the application and acollateral request for the security amount; transmit, to the usercomputing device, the passcode and the collateral request for thesecurity amount; receive the passcode from an automated teller machine(ATM) of a second provider, the passcode received by the ATM from theuser computing device via near-field communication, Bluetooth, or RFIDto identify the application; responsive to identifying the applicationbased on the passcode, transmit, to the ATM for display, the collateralrequest for the security amount; receive, from the ATM, a messageacknowledging a collateral deposit; issue the secured credit responsiveto determining the collateral deposit satisfies the security amount ofthe collateral request for the identified application; and transmit, tothe user computing device or to the ATM, a notification indicating thatthe secured credit has been issued.
 2. The computing system of claim 1,wherein transmitting the passcode comprises transmitting an email to anemail address associated with the application.
 3. The computing systemof claim 1, wherein transmitting the passcode comprises transmitting atext message to a cellular phone associated with the application.
 4. Thecomputing system of claim 1, wherein the passcode is an in-applicationmessage to the application installed on a smartphone associated with theapplication.
 5. The computing system of claim 1, wherein the passcodecomprises an alphanumeric string.
 6. The computing system of claim 1,wherein the secured credit is at least one of a secured credit card, asecured line of credit, and a secured loan.
 7. The computing system ofclaim 1, wherein issuing the secured credit comprises provisioning asecured credit card to a mobile wallet account.
 8. The computing systemof claim 1, wherein issuing the secured credit comprises generating anaccount number associated with the secured credit.
 9. Acomputer-implemented method comprising: receiving, by a computing systemof a first provider, from a user computing device, via a website orsoftware application running on the user computing device, anapplication for secured credit for a requested amount; determining, bythe computing system, a security amount satisfying a predetermined ratiowith the requested amount; generating, by the computing system, apasscode corresponding to the application and a collateral request forthe security amount; transmitting, by the computing system, to the usercomputing device, the passcode and the collateral request for thesecurity amount; receiving, by the computing system, from an automatedteller machine (ATM) of a second provider, the passcode received by theATM from the user computing device via near-field communication,Bluetooth, or RFID to identify the application; responsive toidentifying the application based on the passcode, transmitting, to theATM for display, the collateral request for the security amount;receiving, from the ATM, a message acknowledging a collateral deposit;issuing, by the computing system, the secured credit responsive todetermining the collateral deposit satisfies the security amount of thecollateral request for the identified application; and transmitting, bythe computing system, to the user computing device or to the ATM, anotification indicating that the secured credit has been issued.
 10. Thecomputer-implemented method of claim 9, wherein transmitting thepasscode comprises transmitting an email to an email address associatedwith the application.
 11. The computer-implemented method of claim 9,wherein transmitting the passcode comprises transmitting a text messageto a cellular phone associated with the application.
 12. Thecomputer-implemented method of claim 9, wherein the passcode is anin-application message to an application installed on a smartphoneassociated with the application.
 13. The computer-implemented method ofclaim 9, wherein the passcode comprises an alphanumeric string.
 14. Thecomputer-implemented method of claim 9, wherein the secured credit is atleast one of a secured credit card, a secured line of credit, and asecured loan.
 15. The computer-implemented method of claim 9, whereinissuing the secured credit user comprises provisioning a secured creditcard to a mobile wallet account.
 16. The computer-implemented method ofclaim 9, wherein issuing the secured credit user comprises generating anaccount number associated with the secured credit.